Yahoo reveals another makeover

Yahoo has undergone restructuring, following the collapse of talks with Microsoft

Yahoo has announced its second major reconstruction in as many years, following the turbulent collapse of takeover talks with Microsoft.

Company president Susan Decker will now oversee three newly-created divisions. The first, dedicated to product management and strategy, will be overseen by Ash Patel – formerly the head of Yahoo's platform and infrastructure group.

Decker herself will lead the US region division, focusing on bringing products to market. Finally, an insights strategy team will take responsibility for the search giant's use of data analysis.

Earlier this month Yahoo turned down a deal that would have seen Microsoft pay $8bn (£4.09bn) for a 16 per cent stake in the company. Since then, Yahoo's share value has dropped and five senior executives have left the firm.

Billionaire shareholder Carl Icahn is also threatening to oust the board at the company's annual general meeting on 1 August. Any change of management would automatically invalidate Yahoo's renewed advertising partnership with Google, which was signed at the same time that talks with Microsoft failed.